In less than a year since its inception, Malaysia’s pioneering digital banking provider, GX Bank Bhd, has hit a significant milestone by attracting over 750,000 customers, who have collectively opened more than 800,000 “savings pockets” or wallets. This remarkable achievement highlights the country’s growing embrace of digital banking solutions.
During the grand launch ceremony of GX Bank’s Headquarters and Centre of Excellence, GX Bank Chairman Datuk Zaiton Mohd Hassan shared the bank’s impressive progress. “This growth marks the Malaysian choice towards the digitalisation of banking services in this era and their trust in digital banking,” she stated, reflecting on the bank’s rapid adoption since its launch in November 2023.
Since starting operations, GX Bank has facilitated more than 13 million transactions through GX cards and QR code scans, illustrating the bank’s substantial impact on everyday financial activities.
In a bold move to cement its position in the digital banking landscape, GX Bank announced a substantial RM1.5 billion investment over the next five years. This investment will be channelled towards the “GX For All” initiative, aimed at fostering local talent and developing cutting-edge solutions in the digital financial sector. Datuk Zaiton elaborated, “This initiative will leverage the latest technology to offer financial access and sustainable solutions for those who are marginalised or have difficulty accessing services.”
A key focus of “GX For All” is to cultivate expertise in artificial intelligence-based solutions for risk and fraud management, alongside lending solutions tailored for individuals and small to medium enterprises. This initiative underscores GX Bank’s commitment to nurturing local technology talent and establishing best practices within the industry.
Further solidifying its role in supporting Malaysia’s technological and economic development, GX Bank’s initiative aligns with the KL20 vision of transforming Kuala Lumpur into a top 20 global start-up hub. “GX For All” also aims to encourage entrepreneurship and explore technology-based solutions for future digital financial needs.
With a workforce predominantly made up of Malaysians—more than 95 percent—GX Bank is poised to address the real financial needs of the Malaysian populace. To support this vision, the bank is collaborating with local universities and has introduced the “Persistent Dream Scholarship” to nurture local talent, with more initiatives expected to be unveiled in the coming months.
GX Bank’s rapid growth and substantial investment plans mark a significant step forward in the digitalisation of Malaysia’s banking sector, promising a more inclusive and innovative financial future for the nation.